These 5 Industries Show No Signs of Bouncing Back Even as the Economy Reopens, Experts Say | Fairygodboss
Mystery Woman
Tell us more for better jobs, advice
and connections
Don’t miss out on new opportunities.
Your feed isn’t personalized yet. Follow topics like career advice, lifestyle or health.
Discover and join groups with like-minded women who share your interests, profession, and lifestyle.
Get alerted when there are new employee reviews.
Get notified when new jobs are posted.
In the News
These 5 Industries Show No Signs of Bouncing Back Even as the Economy Reopens, Experts Say
Una Dabiero
Editorial Associate at Fairygodboss

According to the Bureau of Labor Statistics (BLS), 2.5 million jobs were gained in the month of May, bringing the unemployment rate down to a (still staggering) 16.5%, compared to nearly 20% in April. Many of these jobs were found in just five sectors. 

Here is a breakdown of those five, many of which seem to be bouncing back the most as COVID restrictions ease and markets appear less reactive. 

1. Leisure and hospitality

BLS reports that the leisure and hospitality sector netted 1.2 million added jobs in May — "by far the largest one-month increase in the sector’s history," according to CNBC. Many of these jobs were in the food service industry, although casinos and amusement parks also added 26,000 jobs. 

2. Construction

With projects starting up again in most states, the construction sector added a net 464,000 jobs.

3. Health care and social assistance

Health care lost 2.2 million jobs in March and April but is beginning to bounce back. It added 390,000 jobs in May. 

4. Retail trade

While many people in the retail sector are still out of work, retail did add 367,000 jobs, chipping away at the heavy layoffs done in March and April. 

5. Manufacturing

Manufacturing added over 225,000 jobs in the month of May, a large gain for the sector as it experiences reopening in many states. 

It's worth noting that financial activities and wholesale trade also saw job growth, adding 33,000 jobs and 21,400 jobs respectively. Any of these industries may be strong contenders for the focus of your job search. Several job experts who spoke to Fairygodboss advocated for applying in sectors that appear to be experiencing growth by focusing on your transferrable skills and how your interests can fit into those career opportunities. You can read more of their advice here

However, it's equally important to know where not to look. Several continued to shed jobs in May, with the sectors that have lost the most jobs listed below: 

1. Government

A whopping 585,000 government jobs were lost in May, continuing a negative trend for state and local government employees. 

2. Information

The information sector lost about 38,000 jobs in May.

3. Mining and logging

Mining and logging lost another 20,000 jobs in the month of May.

4. Transportation and warehousing

Transportation and warehousing lost a net 19,000 jobs in May — a continuation of major job losses in the airline, trucking and logistics industries.

5. Utilities

About 2,300 utilities jobs were lost in May, a slight net loss.

Help me find a job.

User deleted comment on 06/18/20 at 4:14PM UTC

Looking for a new job?

Our employer partners are actively recruiting women! Update your profile today.

tag with leaves
The Fairygodboss Feed
We're a community of women sharing advice and asking questions
Start a Post
Share your thoughts (even anonymously)...